SOFIA (Bulgaria), June 7 (SeeNews) – UK-based real estate fund manager Europa Capital said on Tuesday it will buy Bulgaria’s shopping centre Mall of Sofia for over 100 million euro ($146 million).
The company has entered into an agreement to acquire the shopping centre located in downtown Sofia from GE Real Estate and Avestus Capital Partners, it said in a statement.
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“This is Europa Capital’s second investment in Bulgaria this year and amounts to a transaction volume in excess of 100 million Euros,” it said.
The building is the the first shopping mall in the Bulgarian capital. It features 23,600 square metres of shopping area and 10,400 square metres of offices.
Avestus Capital Partners will continue to managed the property. The acquisition is to be financed by Hungary's OTP Bank and its Bulgarian unit DSK Bank, the buyer added.
Europa Capital entered Bulgaria in February by acquiring the shopping centre Retail Park Plovdiv, in the country’s second biggest city of Plovdiv, for 20 million euro from Landmark Property Management.
Europa Capital (www.europacapital.bg) is a real estate fund management group, part of the Rockefeller Group. Since 1995 Europa Capital has raised six real estate funds committing to over 70 transactions worth some 7.0 billion euro across 18 European countries.
($ = 0.685 euro)